The end of the month can be stressful for accounting team members. They spend hours tracking down information from disconnected systems and fixing incorrect entries on spreadsheets. Even with all this work, the month-end close can still take days and hours of overtime to complete. It can get worse from there. Business leaders may not have access to up-to-date financial information until well after the month has ended. There needs to be a way to avoid this time-consuming and costly process that leaves senior managers without accurate financial information.
Acumatica’s accounting software, part of its Enterprise Resource Planning (ERP) platform, streamlines and automates the month-end close process. With Acumatica, you can say goodbye to tedious manual data entry and reconciliations. Acumatica will save you time and money while giving you accurate financial reports to make informed business decisions.
With that in mind, here are seven ways Acumatica can help improve your month-end close:
#1 – Real-time financial information keeps everyone on the same page – Acumatica gives you real-time access to financial information to see how your business is performing at any time. This means you don’t have to wait until the end of the month to reconcile your books and get updated financial reports. There is no extra cost for adding users under Acumatica’s unique pricing plan. Acumatica’s role-based security ensures that only users with proper permissions can access critical information.
#2 – Acumatica’s software digitizes and routes transactions – There’s no more paper to keep track of or manual data entries to worry about. This also results in improved accuracy and efficiency. For example, Artificial Intelligence (AI) and Machine Learning (ML) allow Acumatica to create Accounts Payable (AP) documents directly from scanned vendor bills.
#3 – Customized processes lead to uniformly applied procedures across the company’s operations – Acumatica’s configurable workflows and processes automate document assignments and routing for all necessary approvals
#4 – Automated bank feeds and document attachments – This means you can reconcile your books every day, not just at the end of the month. Acumatica’s automated bank feeds, and document attachments make it possible to match transactions in real-time and quickly resolve any discrepancies.
#5 – Multi-dimensional financial reports meet the need for real-time financial statements – Acumatica can generate bespoke financial reports to suit the requirements of each team member.
#6 – Data moves freely from one system to another – Integrations make it easy to share data between Acumatica and other systems. This eliminates manual data re-entry and ensures that everyone is working with the same information.
#7 – Automated adjustments replace the need for manual entries – Automated transaction entries eliminate the need for manual tracking, recording, and posting.
Acumatica’s accounting software streamlines and automates the month-end close process. With Acumatica, you can stop dealing with tedious manual data entry and reconciliations. Acumatica will save your company time and money while giving you accurate financial reports to make informed business decisions.Contact us today to learn more if you’re ready to improve your month-end close. We’ll show you how easy it is to get started and save time and money every month.
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